may 10, 1773 - Tea Act

Description:

Passed May 10, 1773, this act did not actually tax the colonists further, but instead gave aid to the British East India Company, who possessed a surplus of tea and a lack of sales.This was because of many reasons, including the overall debt of the British following the war, and thus the act allowed the company to send all of its tea to the colonies, where it would be sold for monopoly causing low prices. However, because the repeal of the Townshend Act removed all taxes but those on tea, it seemed to the colonists another way to raise revenue for the British. This deeply angered the local merchants and citizens as the British ships filled Boston’s harbor to unload the tea, leading to the Boston Tea Party.